Mexican peso appreciates after Macron victory

By Elliot Bullman

The Mexican peso appreciated Sunday in international operations after the triumph of former banker Emmanuel Macron in the presidential elections in France.

peso1

Macron, who has a pro vision of European integration, defeated Marine Le Pen, an extreme right-wing nationalist who threatened to pull the country out of the European Union and whose advance in polls prior to the first round of elections last month had caused nervousness in the markets.

peso2

Although investors were already hoping for Macron's win against Le Pen, they were relieved by the wide margin of the ex-soldier and pro-European in front of the far-right candidate.

The Mexican peso celebrated the victory of the ex-banker Emmanuel Macron in the presidential elections of France, by defeating the right-wing candidate Marine Le Pen by a wide margin. The peso traded at 18,915 per dollar, up 0.46 percent, compared to 19,0025 pesos from Friday's benchmark Reuters price.

peso3

The Mexican peso finished last week strong having taken advantage of the weakness of the dollar in the international market. Encouraging news regarding the US unemployment rate falling unexpectedly to 4.4 percent in April also helped the peso.

Looking ahead this week the Mexican peso's upside potential could be further boosted by the shifting views of Trump and top officials of his administration over the upcoming North American Free Trade Agreement (NAFTA) negotiations.

peso4

RELATED NEWS

  • Corruption and impunity, the biggest challenge for 2018Corruption and impunity, the biggest challenge for 2018
  • CDMX toughens rules for transport apps; goodbye to UberpoolCDMX toughens rules for transport apps; goodbye to Uberpool
  • At least 217 dead after powerful earthquake hits central MexicoAt least 217 dead after powerful earthquake hits central Mexico
  • The surprising change of mood in 2017The surprising change of mood in 2017
  • Hurricane Hurricane 'Irma' will cause more cruise demand for Mexico
  • Merida, Yucatan fast becoming an industrial powerhouseMerida, Yucatan fast becoming an industrial powerhouse
  • Manpower predicts biggest recruitment surge in Mexico for 20 yearsManpower predicts biggest recruitment surge in Mexico for 20 years
  • 676,241 formal jobs are created between January and August 2017676,241 formal jobs are created between January and August 2017
  • Apple suffers Apple suffers 'major iPhone X leak'
  • Government signs agreement with Chinese e-commerce giant AlibabaGovernment signs agreement with Chinese e-commerce giant Alibaba
  • Who foots the bill for Mother NatureWho foots the bill for Mother Nature's Destructive Fury?
  • Shell opens first Mexico gas station, eyes up to $1 billion investmentShell opens first Mexico gas station, eyes up to $1 billion investment
WATCH LIVE TV



Most Read Articles
Most Watched Videos
  • Generations Riviera Maya
  • Mayair

Language

Mexico News Network
All rights Reserved 2017